Issue - meetings

Background:

The report presented a review of the Council’s One Medway Financial Improvement and Transformation Plan (FIT Plan) monitoring for Round 4, which was also the annual outturn report, and was to be read in conjunction with the Revenue Budget monitoring for this period.

2025/26 was the second iteration of the Council’s FIT Plan, as part of its journey to financial sustainability.

Reasons:

Full Council is responsible for agreeing a balanced budget in advance of each financial year. Cabinet is responsible for ensuring that income and expenditure remain within the approved budget, including instructing transformation activities or corrective action to prevent any forecast overspend from materialising.

The FIT Plan, which is reviewed regularly at Corporate Management Team (CMT), is one of the key tools for ensuring delivery of savings in the current financial year and implementing a range of key actions to ensure the long-term financial sustainability of Medway Council.